NovoCure shares are trading higher after the company announced FDA approval of Optune Lua for the treatment of metastatic non-small cell lung cancer. Also, HC Wainwright & Co. upgraded the stock from Neutral to Buy and raised its price target from $24 to $30.
Portfolio Pulse from Benzinga Newsdesk
NovoCure shares rise following FDA approval of Optune Lua for metastatic non-small cell lung cancer treatment. HC Wainwright & Co. upgrades the stock to Buy and raises the price target from $24 to $30.
October 16, 2024 | 11:39 am
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POSITIVE IMPACT
NovoCure's stock is positively impacted by FDA approval of Optune Lua for lung cancer treatment and an upgrade from HC Wainwright & Co., which raised the price target to $30.
The FDA approval of Optune Lua is a significant regulatory milestone that expands NovoCure's market potential, likely boosting investor confidence. Additionally, the upgrade from HC Wainwright & Co. and the increased price target provide further positive sentiment, suggesting a likely short-term increase in stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100